[Funding alert] Healthtech platform MedTrail raises Rs 6.37 Cr from Strive, LetsVenture, others
New Delhi-based healthtech platform MedTrail has raised Rs 6.37 crore in funding led by Strive (formerly GREE Ventures), which alone invested Rs 2.2 crore via its second fund AT-II Investment.
The other investors who participated in the round include LetsVenture, KB 1 Capital India Private Limited, Miten Harish Sampat (Vice President, Corporate Development at Times Internet), Jamil Khatri (Partner at KPMG), and Dubai-based family fund Diverse Middle East FZE.
According to the RoC filings accessed by YourStory, LetsVenture and KB 1 Capital India have infused Rs 1.59 crore and Rs 1.5 crore, respectively.
Khatri contributed Rs 31 lakh, while Sampat invested Rs 25 lakh, and Diverse Middle East FZE poured in a little over Rs 50 lakh.
Founded in 2017 by Mohit Mittal (CEO) Nikhil Agrawal (COO) and Vijay Simha Reddy (CTO), MedTrail provides a platform to doctors and healthcare service providers to collaborate with patients to solve healthcare problems using technology.
The startup aims to utilise the funds to increase its reach among the patients by onboarding more and more doctors and healthcare service providers on the platform.
On Tuesday, another healthtech startup mfine also received Rs 31 crore as venture debt from Alteria Capital. Earlier, in April this year, the startup had secured around Rs 118.64 crore (or $17.2 million) as part of Series B funding from SBI Investment, SBI Ven Capital, Stellaris Venture Partners, and Prime Venture Partners.
mfine, which aims to expand its hospital network to Delhi NCR, Kolkata, Mumbai, and Chennai soon, is looking to onboard over 2,500 doctors from 250 hospitals and reach an average of 150,000 consultations per month, in the next one year.
Last month, Sequoia India also backed healthcare delivery startup Pristyn Care with Series A funding of $4 million. Pristyn Care is currently operational in 20 clinics across Delhi, Bengaluru, and Hyderabad, and plans to expand its clinic network to 50 by December 2019.
(Edited by Megha Reddy)